Homophobia Costs India An Estimated $31 Billion Annually

Homophobia has an annual cost to India of $31 billion or more, according to a draft report presented Wednesday at a forum at the World Bank’s headquarters in Washington, D.C.

This number is just a rough estimate, since economists lack the data to make a firm calculation. If development institutions decide to make LGBT rights a priority — and could shape the billions of dollars that flow through them every year — LGBT rights advocates could have far more powerful allies than those they’ve won in institutions devoted to human rights.